Rivington Energy, the parent company of UK developer Renewable Connections, has sold a 50 MW battery energy storage system (BESS) to funds managed by Schroders Greencoat.
The BESS, in Yarnton, Oxfordshire, was granted planning permission in June last year. It will export up to 49.9 MW and import 40 MW, a slight reduction from the 52 MW capacity that Renewable Connections, which developed the project, had proposed.
Schroders acquired the site through a locally focused renewable infrastructure fund for local government pension fund members, called Wessex Gardens.
The companies indicate that the site will be connected to the electricity grid in the short term and that construction will start in 2027. From June 11, the The National Energy System Operator (NESO) has made firm offers for grid connections for more than half of the capacity to come online before 2030.
Of the 1,223 projects in Gate 2 Phase 1, developers on 713 projects now know when and where they will connect, and what network upgrades are needed to make this possible. With that certainty, projects can move forward and should become more attractive for acquisition or investment, as evidenced by this acquisition, with a near-term date likely being a key selling point.
Renewable Connections solar power plant approved
The sale of the Yarnton BESS was announced shortly after Renewable Connections received planning permission for an 18.74 MW solar PV installation in Worksop, Nottinghamshire.
Shireoaks Solar Farm was approved by Bassetlaw District Council’s planning committee on May 17e June. It will cover approximately 21 hectares of agricultural land, with Renewable Connections Chief Operating Officer Jonathan Plumb noting that the developer has planned measures to increase biodiversity on the site.
According to the project website, construction activities will begin this year. No mention is made of a date for the grid connection.
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